Jerónimo Martins Posts Portugal Sales Increase, Despite Growing Food Inflation
Jerónimo Martins has posted a like-for-like sales increase of 1.0% at its Portuguese retail operation, Pingo Doce, for full-year 2017, despite increased food inflation in the marketplace.
The retailer noted that Portuguese food inflation for the year was 1.5%, rising to as high as 2.0% in Q4.
However the consumer environment 'showed some dynamism' in the last quarter of the year, which helped Pingo Doce post a 3.0% like-for-like sales increase in the fourth quarter.
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